Ex-Stanford Exec Gets 3 Years for Ponzi Scheme

AP

Thursday, 13 Sep 2012 | 2:26 PM ETThe Associated Press

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A judge has sentenced a former top executive in the empire of disgraced Texas financier R. Allen Stanford to three years in prison for her role in helping the once jet-setting businessman bilk investors out of more than $7 billion.

In June, Pendergest-Holt pleaded guilty as part of an agreement with federal prosecutors to one count of obstruction of a U.S. Securities and Exchange Commission proceeding in exchange for the three-year prison sentence.

(Read more: The Allen Stanford Scandal)

Her guilty plea came after Stanford was sentenced to 110 years in prison following his conviction on fraud-related charges for orchestrating one of the biggest Ponzi schemes in U.S. history.